By Sabela Ojea
Guardion Health Sciences Inc. said Monday that it has hired the investment-banking company Roth Capital Partners LLC to conduct a strategic-review process of the specialty health sciences company after its revenue declined in the third quarter.
The company said its aim is to maximize stockholder value, as it believes its current market valuation doesn’t accurately reflect the group’s potential.
Guardion Health is exploring several options, which include a sale, merger, acquisitions, reverse acquisition, or other strategic transaction, it said.
The company’s third-quarter revenue fell to $2.7 million compared with $3.1 million for the year-earlier period.
“We are pleased with the progress that we made during the quarter as we work to build a stronger clinical nutrition company, despite the decrease in revenue for the quarter, which is consistent with the broader trends in our industry,” President and Chief Executive Bret Scholtes said.
Write to Sabela Ojea at sabela.ojea@wsj.com
